What's Happening With Beigene Shares During Wednesday's Session
Portfolio Pulse from Henry Khederian
Beigene Ltd (NASDAQ:BGNE) shares are trading lower by 3.41% to $185.03 on downward momentum following Tuesday weakness. The decline is attributed to China's central bank cutting its one-year loan prime rate and five-year rate to stimulate the country's economic recovery.
June 21, 2023 | 2:28 pm
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Beigene Ltd's stock price is down 3.41% due to China's central bank cutting key lending benchmarks, which has led to downward momentum in Chinese stocks.
Beigene Ltd's stock price is directly impacted by the news of China's central bank cutting key lending benchmarks. The downward momentum in Chinese stocks, including BGNE, is a result of concerns regarding the property market and the easing measures not being as extensive as anticipated. This has led to a decline in BGNE's stock price.
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